Conversion

ANSWERING THE QUESTION:

“How do wecompare to thecompetition?”

To find out, we looked at aggregated data from 1.3 billion unique users performing 50 billion events around the globe.

By analyzing this data on Mixpanel, we found average and best-in-class benchmarks in four popular industries for product innovation: financial services, media & entertainment, software-as-a-service (SaaS), and e-commerce & retail. Keep reading to see how your products stack up in your space.

Preview the findings by KPI

01

Usage

02

Retention

03

Engagement

04

Conversion

USAGE

"Are people actually using my product?" No matter how amazing your product, it does not matter until someone actually uses it.

What is average product stickiness by industry?

DAU/MAU is daily active users divided by monthly active users, otherwise known as stickiness. It measures how frequently your users are active in your product, expressed as a percentage of days with a visit during a given month.

Overall? Stickiness is hard to achieve. In even the most popular sector, media & entertainment, the median stickiness of 8.8% implies fewer than three days of activity per month per user.

Retention

Getting a lot of users isn't very useful if you don’t keep them. Retention shows you how many users find your product worth coming back to.

What is average retention by industry?

Building a product that attracts people is one thing. Building one that keeps them is a lot better. In this case, retention measures whether a user who performed an action on an app returned to that same app after a certain period of time.

Across all sectors, the numbers are surprisingly uniform. People are as likely to abandon SaaS apps as they are to bail on a media & entertainment one after a week.

Engagement

Engagement means action. It’s how product managers can check the pulse of their product on a fundamental level.

How does engagement change by day of the week?

Companies often want to know when their users are most active or engaged. In this graph, "engagement" means the total number of actions users perform and how those actions are distributed throughout the week.

While it’s no surprise to see that the weekend is less active across industries, the falloffs in finance and SaaS—which are likelier to be used in a business context—are largest.

Conversion

Conversion is the final step in the user journey. It’s what all the product team’s hard work is building towards.

What's a "normal" conversion rate?

In the end, visits aren’t enough—what good is a window shopper? Companies need users to perform key actions related to broader business goals.

Media & entertainment companies want viewership, e-commerce wants to sell products, finance apps want you to complete transactions, and SaaS apps want subscribers. For e-commerce companies, converting one in twelve visitors into a sale puts you firmly in the middle of the pack.

Learn more

This was only a small sample of the Mixpanel Product Benchmarks report. In order to see in-depth industry-by-industry data and analysis, including how the 90th percentile performs, get the full report now.

Measure yourself against the best

See how best-in-class products perform on growth rates, retention, and more.